26,923 Shares in UFP Industries, Inc. $UFPI Acquired by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new stake in UFP Industries, Inc. (NASDAQ:UFPI) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 26,923 shares of the construction company’s stock, valued at approximately $2,443,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of UFP Industries in the second quarter valued at about $688,063,000. Norges Bank acquired a new position in UFP Industries during the fourth quarter worth about $75,183,000. Wasatch Advisors LP grew its stake in UFP Industries by 32.9% during the 1st quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company’s stock valued at $187,732,000 after acquiring an additional 504,609 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in UFP Industries during the 2nd quarter valued at about $34,067,000. Finally, River Road Asset Management LLC raised its holdings in UFP Industries by 64.1% in the 4th quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company’s stock valued at $80,118,000 after acquiring an additional 343,830 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on UFPI. BMO Capital Markets raised shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price on the stock in a research note on Tuesday, May 5th. Weiss Ratings upgraded UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. DA Davidson cut their price target on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, May 1st. Zacks Research raised UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Finally, Stifel Nicolaus set a $90.00 price objective on UFP Industries and gave the stock a “hold” rating in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, UFP Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.50.

UFP Industries Trading Up 0.8%

Shares of UFPI opened at $86.01 on Friday. UFP Industries, Inc. has a 12-month low of $77.89 and a 12-month high of $118.00. The firm has a market capitalization of $4.74 billion, a P/E ratio of 19.73 and a beta of 1.23. The firm has a 50-day moving average price of $88.28 and a 200 day moving average price of $90.67. The company has a current ratio of 3.98, a quick ratio of 2.64 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.79 billion. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. Sell-side analysts forecast that UFP Industries, Inc. will post 4.51 EPS for the current year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. UFP Industries’s payout ratio is presently 33.03%.

UFP Industries Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.